The U.S. Small Business Administration issued a third round of grant funding to UNHInnovation to provide specialized training, mentoring and technical assistance for research and development-focused small businesses under the Federal and State Technology (FAST) Partnership Program. FAST’s objective is to strengthen the competitiveness of small businesses and startups across the country, particularly those from underserved communities to help them benefit from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs.
UNHInnovation is one of 44 grant awardees nationwide, which include state and local economic development entities, Small Business Technology Development Centers, Small Business Development Centers, Women’s Business Centers, Procurement Technical Assistance Centers, incubators, accelerators, colleges, and universities. The FAST Partnership Program makes awards for a base period of 12 months, plus two optional continuation periods of 12 months, if eligible. UNHInnovation is part of the third year cohort of FAST awardees, having also received awards in 2020 and 2021.
“Receiving this third year of funding will be instrumental in growing the momentum we’ve built over the past two years,” said Marc Eichenberger, Associate Vice President & Chief Business Development/Innovation Officer at UNHInnovation. “With the extension of this funding, we can offer continued support to New Hampshire companies through training and engagements, as well as direct support through our microgrant program. We’re motivated by the progress we’ve made over the past two years, and we look forward to expanding our impact again this year.”
UNHInnovation leveraged the first round of FAST funding to launch a program called FOSTER (Focused SBIR/STTR Teaching, Equity and Results) to provide education, training and grant proposal support to New Hampshire small businesses. The FOSTER program’s success is due in large part to its collaborative approach. Its Ambassador Network, which is made up of partner organizations around New Hampshire, has enabled the program to engage the entire state to help identify and support potential participants, particularly those that are women-owned, rural-based and socially- economically disadvantaged.
About FAST
In FY 2022, $6 million was appropriated for entities to carry out activities defined under the FAST Partnership Program legislative authority. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance. These efforts are focused on elevating and expanding the ecosystem support network that works with technology developing entrepreneurs, startups, and existing small businesses. FAST’s primary goal is to help tech entrepreneurs who have traditionally been left out of federal R&D programs by successfully applying, winning, and executing SBIR and STTR awards. Additional information can be found at www.sbir.gov/about-fast.
About SBIR/STTR
SBA coordinates the SBIR/STTR programs, known as America’s Seed Fund across the 11 participating federal agencies. Over $4 billion in early-stage seed capital was provided in FY 2022 through over 7,000 awards to more than 4,000 small businesses. Federal agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by America’s Seed Fund often generate some of the most important breakthroughs each year in the U.S. Additional information about the programs, as well as past and current topics can be found at www.sbir.gov.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
